Ticker
Dollar plumbs two-year low as Fed comes in to focus
Dior sticks by Johnny Depp in defiance of 'wife beater' ruling
Deutsche Bank seeking to offload three Trump loans
SEC announces record-breaking $114 million reward
Umfassende Nachfolgeregelung
Econ
Deficit to reach record $3.3 trillion
The federal deficit is expected to reach a record $3.3 trillion this year, more than twice the largest level on record, but lower than earlier estimates, according to new Congressional Budget Office (CBO) projections.
US economy suffers worst quarter since the second world war
Drop in quarterly gross domestic product comes as 1.43m people file for unemployment benefits, a second week of increases, amid Covid-19 pandemic.
Americans' credit card debt is shrinking rapidly
Viber and Verizon sever ties with Facebook in growing boycott
The messaging service Viber, the fifth biggest with more than a billion users around the world, is severing all ties to Facebook as part of a growing boycott of the company by commercial partners.
Deutschland liefert Waffen in Kriegsgebiete
Das geht aus einem vom Wirtschaftsministerium als Verschlusssache eingestuften Dokument hervor. Die Türkei war damit das zweite Jahr in Folge die Nummer eins unter den Empfängerländern deutscher Kriegswaffen. Insgesamt wurden im vergangenen Jahr Waffen mit einem Wert von 823,6 Millionen Euro exportiert.
Was Corona aus Deutschland macht
Die deutsche Wirtschaft ist im ersten Halbjahr 2020 in noch nie da gewesenem Maße geschrumpft: Die wirtschaftliche Gesamtleistung im zu Ende gehenden zweiten Quartal dürfte real um nahezu 14 Prozent geringer sein als im Schlussquartal 2019.
England vor dem Chaos: No-Brexit wahrscheinlich
Die Verhandlungen über die künftige Beziehung geraten ins Stocken: Der Premier will nicht länger im Binnenmarkt bleiben, aber auch keine Zugeständnisse machen.
This could be the next major retailer facing bankruptcy
With more than 10 million men out of work and millions more working from home, perhaps indefinitely, this is not the best time to be selling men's dress clothes.
Deutscher Export bricht um mehr als 30 Prozent ein
Die deutschen Exporte sind wegen der Corona-Rezession bei vielen wichtigen Handelspartnern so drastisch eingebrochen wie noch nie. Der Wert der Warenausfuhren sank gegenüber dem Vorjahresmonat um 31,1 Prozent auf 75,7 Milliarden Euro, wie das Statistische Bundesamt in Wiesbaden mitteilte.
Shortnews
Valued around $10.5 billion ahead of direct listing
As Palantir gears up for its stock market debut, the company has a long way to go to convince potential shareholders that it’s worth the $20 billion price tag that investors gave it almost five years ago. Palantir held a virtual event for investors on Wednesday. The company, whose software helps government agencies and large corporations make sense of vast amounts of data, also released an updated prospectus, indicating that the number of shares outstanding increased in the third quarter, to 1.64 billion from 1.53 billion in the prior period.
Employees may wear Black Lives Matter pins
American Airlines will permit its employees to wear Black Lives Matter pins while on the job, a spokesperson confirmed on Tuesday. Several Black employees of American Airlines asked if they could wear Black Lives Matter pins after seeing workers at other airlines wearing them. “In light of the appropriate attention to lives of Black Americans, we will allow team members who wish to wear a Black Lives Matter pin to do so if they choose,” American Airlines announced.
Failure to take down Kenosha militia group
Mark Zuckerberg acknowledged that Facebook failed to take down a page and event calling for an armed response to anti-police brutality protests in Kenosha, Wis., despite users reporting them. The Facebook CEO said during a Q&A with employees Friday that was later posted onto this public page that “it was largely an operational mistake. It's because the team that enforces our policy against dangerous organizations is a specialized team,” he explained.
U.S. consumer spending rose more slowly
U.S. consumers boosted their spending in July, but more slowly than in prior months as new coronavirus infections rose and the expiration of enhanced unemployment checks loomed. Spending numbers have come back more than the economy as a whole, with the help of a lot of fiscal support. The question going forward is as fiscal support wanes, to what extent will it weaken.” Personal-consumption expenditures, a measure of household spending on everything from haircuts to new cars, increased a seasonally adjusted 1.9% in July from the prior month, the Commerce Department said Friday.
Weekly jobless claims jump back above 1 million
The number of people filing for unemployment benefits last week was greater than expected, raising concern about the state of the economy as lawmakers struggle to move forward on a new coronavirus stimulus package. The Labor Department said initial jobless claims for the week ending Aug. 15 came in at 1.106 million. Economists polled by Dow Jones expected a total of 923,000. Initial claims for the previous week were also revised higher by 8,000 to 971,000. Last week’s spike in claims came as Democrats and Republicans struggle to move forward on a new coronavirus stimulus bill.
